New Update: Healthcare Costs Increasing by Over 60% in Some States. Will you be impacted?

NiSource Employees: Discover the Key Questions to Ask for a Fulfilling Retirement Journey

Healthcare Provider Update: NiSource provides employees with a variety of health insurance options including PPO, HMO, and high-deductible plans with HSAs. Dental and vision coverage is available, along with FSAs for healthcare and dependent care. Life insurance equal to twice base pay is company-paid, with options to purchase additional coverage. Disability benefits, accident insurance, and paid sick leave are also included. Retirement benefits feature a 401(k) plan with matching, and employees may receive opt-out credits if they decline coverage 2. NiSource As ACA premiums rise, NiSources employer-sponsored plans and pre-tax savings accounts offer employees a more affordable and stable alternative to marketplace coverage. With insurers requesting double-digit increases and federal subsidies potentially expiring, employer-backed plans like NiSources help shield employees from steep out-of-pocket costs. Click here to learn more

Eight years ago, in my mid-40s, I attended a dinner party where I witnessed an older man, slightly tipsy from his gin, pose a question to a young girl: “What do you want to be when you grow up?” Her response was a gleefully rattled off list: veterinarian, painter, computer programmer. I listened, intrigued, which soon turned into a near-panic realization. She had time to be all those things. However, no one was asking me what I wanted to be at a mature age. More critically, I wasn’t asking myself that question. At NiSource, midlife is often not just a reflection but a redirection, sparking new career phases and personal growth.

Midlife is often seen as a 'crisis' time, marked by a U-shaped happiness curve with a dip in middle years. A significant reason for this is a tendency to fall into a vicious circle of complacency, where we lean heavily on our existing skills. We are reassured by our competence yet constrained by our perceived limitations, distributing our time accordingly. This inertia can pose health risks if it leads to prolonged burnout. Conversely, pondering 'What do I want to be?' can foster positive age perceptions and a strong will to live, something NiSource professionals understand well, encouraging ongoing learning and adaptation.

This dinner party encounter propelled me into an unexpected six-year journey to become a competitive athlete, something I would never have envisioned. As a skinny, gangly child born a year before Title IX was amended, I always had an instinctive craving for what sports could offer me. Usually picked last for teams and warming the bench, I leaned into what I was praised for—stringing words together—and followed this feedback into a journalism career. I found myself tethered to my keyboard, leading a sedentary life of sitting and screen watching. Meanwhile, athletics took a backseat. Indeed, no one burst with joy when I fumbled on the seventh-grade basketball court, a reminder that we value resilience and the courage to try new roles, regardless of past experiences.

I was advised that by embracing something you enjoyed as a child and were naturally good at, it could become your superpower. Whether true or not, I’d be thrilled to gain an additional 7.5 years of life. This figure comes from Becca Levy, a Yale epidemiology professor who led a pioneering study linking age perception with mortality data. She concluded that individuals with a more positive view of aging lived an average of 7.5 years longer. Central to these positive perceptions was maintaining a 'will to live,' encompassing activities that excite and motivate us—much like the ongoing development opportunities at NiSource, where employees are encouraged to engage in activities that fuel their passion and vitality.

After discussing with Levy and reviewing multiple studies from health, cognition, and longevity experts for my book 'Not Too Late: The Power of Pushing Limits at Any Age,' one conclusion was clear: avoiding the skill trap as we age is vital for preserving our sharpness and agility. Chronic exhaustion—like that which comes from tackling tough situations—has been linked to anxiety, depression, and an increased risk of making mistakes. By embracing new or uncomfortable experiences, we stop forcing our brain to operate on autopilot and make challenging choices. For example, always taking the same route, eating at the same restaurants, talking to the same people, or performing the same job in the same way. Routines have their place, but not when they put your life on autopilot, a philosophy well-aligned with NiSource’s emphasis on innovation and dynamic career paths.

The Seattle Longitudinal Study, a significant research project running from 1956 to 2012, investigated cognitive development and change through adulthood. Over 6,000 adults, aged 22 to 100, participated, undergoing exercises to assess their cognitive skills. K. Warner Schaie, the lead author, wrote: 'When one stops making decisions, it won't be long before it's hard to make decisions at all. The belief that one can do no more becomes a self-fulfilling prophecy.' At NiSource, we challenge this notion by fostering an environment where lifelong learning and decision-making are key components of our culture.

Still disoriented the morning after the dinner party, a simple Google search on 'the most challenging activities to do' led me to obstacle course racing (OCR), a demanding sport that combines running with obstacles such as carrying heavy sandbags and navigating ropes and monkey bars. An OCR variant will be featured in the 2028 Olympic Games as part of the modern pentathlon.

OCR was my answer to the old man’s question. Although I was certainly older, 'athlete' was still something I longed to be. Thus, for the past six years, I have trained nearly every day, despite my other responsibilities and professional obligations, to become what I always wished to be as a little girl but never imagined possible. As a competitive athlete, I've participated in over 50 races, won numerous medals in my age group, and competed in two world championships of the Spartan Race.

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When I was younger, there wasn't much to tell me that I could ever develop these skills. However, by tapping into the qualities, experience, and wisdom I now possess as an adult, I finally achieved this. Your ambition might differ, but you can also realize it. The path forward requires a reorganization of time and priorities. Three strategies to consider when embarking on your own quest to escape the skill prison:

Do not impose entry barriers.
Try something you truly enjoy, regardless of whether you think you are skilled at it.
Be willing to appear foolish.

According to research, retirees who regularly ask themselves reflective questions about their life satisfaction tend to experience greater joy. A Harvard University study found that questions like 'What activities bring me joy?' and 'How can I continue to grow and learn?' are crucial for maintaining a fulfilling retirement. Regular self-assessment helps retirees align their activities with their values, enhancing overall well-being.

Explore how embracing new challenges can enhance your retirement years. This article examines how to push boundaries, avoid chronic monotony, and extend your life with expert advice and real-life examples. Keywords: retirement, active aging, mental well-being, overcoming ennui, longevity, new challenges, maintaining activity, positive age perceptions, health benefits, retirement activities.

As an employee of National Grid, what are the key eligibility criteria for participating in the Pension Plan specifically for Niagara Mohawk Power Corporation employees? How might these criteria impact your personal retirement planning and the benefits you expect to receive upon retirement from National Grid?

Eligibility Criteria for Niagara Mohawk Pension Plan: Employees of Niagara Mohawk Power Corporation who are represented by Local Union 97 of the IBEW and work at least 20 hours per week or accumulate 1,000 hours in a Pension Plan year are eligible. Participation begins automatically on the first day of employment. These criteria directly impact retirement planning by determining when employees begin accruing pension benefits and how much they will receive at retirement(National_Grid_2023_Niag…).

Within the framework of the National Grid Pension Plan, how does the cash balance formula work in calculating retirement benefits, and what implications does this have for employees of Niagara Mohawk Power Corporation when considering their long-term financial outlook?

Cash Balance Formula: The National Grid Pension Plan for Niagara Mohawk employees uses a cash balance formula that provides monthly pay-based credits (starting at 4% and increasing with years of service) and interest credits. These accumulate in a hypothetical account, growing until retirement, allowing employees to track their retirement benefits much like a savings account. This formula impacts financial outlook by providing predictable growth tied to service and pay(National_Grid_2023_Niag…).

For employees at National Grid, what are the specific rights and options available during the pension benefit application process? How do these rights protect the interests of individual employees and ensure they receive fair treatment under the Niagara Mohawk Pension Plan?

Pension Benefit Application Process: National Grid employees must apply for their pension benefits by submitting the required forms at least 90 days before retirement. Spousal consent is required if opting for any form of payment other than the default. This ensures employees understand and select the best payment option for their circumstances, protecting their interests under the Niagara Mohawk Pension Plan(National_Grid_2023_Niag…).

Given the different types of credits that contribute to the pension benefit for employees of National Grid, how are Pay-based Credits and interest credits calculated? What strategies might Niagara Mohawk Power Corporation employees employ to maximize these credits before retirement?

Pay-based and Interest Credits Calculation: Pay-based credits are determined by years of service, starting at 4% of pay and increasing to 8% after 20 years. Interest credits are based on an annual interest rate tied to the Treasury securities and corporate bond rates. Employees can maximize these credits by continuing to work and contributing to their pension balance(National_Grid_2023_Niag…).

How do pension benefits work for Transition Group Employees specifically within National Grid's framework, and what unique provisions apply to them under the Pension Plan as compared to regular employees of Niagara Mohawk Power Corporation?

Pension Benefits for Transition Group Employees: Transition Group Employees under the National Grid Pension Plan have benefits calculated using both the former final average pay formula and the cash balance formula, with the greater benefit being paid out. This differs from regular employees who only receive benefits calculated under the cash balance formula(National_Grid_2023_Niag…)(National_Grid_2023_Niag…).

What are the repercussions for National Grid employees in terms of benefit loss or limitation if they have not met the Vesting requirements under the Niagara Mohawk Pension Plan? How can understanding these repercussions influence an employee's decision-making regarding their career and retirement?

Impact of Vesting Requirements: Employees must complete three years of service to become vested in the Niagara Mohawk Pension Plan. If they leave before vesting, they lose all accrued pension benefits. Understanding vesting requirements is crucial for career and retirement planning, as it ensures employees retain their pension benefits if they meet the criteria(National_Grid_2023_Niag…).

As a current employee at National Grid, what does the termination of the Pension Plan imply for accrued benefits under the Niagara Mohawk Pension Plan? Specifically, how do federal protections through ERISA and the Pension Benefit Guaranty Corporation come into play for employees seeking assurance regarding their retirement funds?

Termination of Pension Plan and Federal Protections: If the Niagara Mohawk Pension Plan is terminated, accrued benefits are protected by ERISA and insured by the Pension Benefit Guaranty Corporation (PBGC). Employees can feel assured that their benefits will be secured up to the PBGC's limits in case of plan termination(National_Grid_2023_Niag…).

How does the National Grid Pension Plan accommodate the unique situations of employees during times of disability or military service, and what steps should Niagara Mohawk Power Corporation employees take to ensure their benefits continue during these periods?

Disability and Military Service: Niagara Mohawk employees receive service credits during periods of disability or military leave, ensuring continuous pension accrual. Employees should ensure their disability or military status is properly documented with the company to avoid interruptions in their pension benefits(National_Grid_2023_Niag…).

When considering the various forms of pension payments available to retirees from National Grid, what are the potential advantages and disadvantages of choosing an annuity versus a lump-sum payment for employees from Niagara Mohawk Power Corporation?

Annuity vs. Lump-Sum Payment: Retirees at National Grid have the option to choose between an annuity, providing a steady income for life, or a lump-sum payment. The annuity provides financial stability, while a lump sum offers flexibility. The choice depends on individual financial needs and retirement goals(National_Grid_2023_Niag…).

For those looking to gain further clarity on the nuances of the Niagara Mohawk Pension Plan, what are the most effective ways for employees to contact National Grid for assistance? How can engaging with the Pension Service Center enhance an employee's understanding of their benefits and rights?

Contacting National Grid for Pension Assistance: Employees seeking more information about their Niagara Mohawk Pension Plan can contact the National Grid Pension Service Center or use the online pension modeler. Engaging with the Pension Service Center provides personalized guidance, helping employees understand their benefits and make informed decisions(National_Grid_2023_Niag…).